Investment in the prefabricated construction sector continues to grow in the global market_prefabricated construction market report 
                     Investment in the prefabricated construction sector 
continues to grow in the global market_prefabricated 
construction market report 
Over the last 12 months, the global prefabricated industry has recorded 
strong growth. Drive by rising construction material prices, inflation, and 
other macroeconomic factors, many of the leading global players in the 
prefabricated construction space were seen expanding their production 
capacities, resulting in increased investment in the segment. Top Hat and 
Ilke Homes are among the many that are strengthening their production 
capacities. The trend has further continued in 2023. 
This time an Indian firm announced an investment in the prefabricated 
sector to develop another manufacturing unit in the country, thereby 
adding more production capacity and meeting the growing demand. 
In February 2023, EPACK Prefab Private Limited, an Indian firm, announced 
an investment of INR 2 billion for setting up a manufacturing unit in the 
Southern part of the country. This manufacturing unit will cater to the 
growing demand for pre-engineered buildings in the Southern States of the 
country. The investment of INR 2 billion will add an additional 84,000 
metric tonnes per annum (mtpa) production capacity to the existing 
1,00,000 mtpa.
 
The demand for prefabricated construction is growing at a rapid rate in the 
Southern States. The shortage of time, coupled with space constraints, is 
driving the demand for prefabricated modules. 
In February 2023, Technopark, a major IT hub in the state of Kerala, 
adopted the usage of prefabricated construction practices amid the 
growing waitlist of corporates. Nearly 400 firms are seeking to start offices 
in the IT hub. 
Due to space constraints, officials have not been able to provide the 
needed space, and therefore, have turned to prefabricated construction. 
Through the plug-and-play facilities, Technopark is seeking to overcome the 
space crisis and move the companies on the waitlist to prefabricated units, 
until the construction of IT buildings is complete. 
Read More - 
The demand for housing is projected to drive the construction sect
or growth in 
Australia
Even government bodies are turning to prefabricated solutions in India. 
With the Joshimath crisis, which has displaced many families in the region, 
the Union government approved the construction of temporary structures 
in the form of prefabricated houses. NTPC and Hindustan Construction 
Company Limited (HCC), have been asked to develop 2,000 prefabricated 
houses each in the area. 
Not just in India, but government bodies around the world are looking at 
prefabricated units as the solution to the massive housing shortage faced. 
Hong Kong, for instance, approved a US$3.36 billion housing scheme to 
build temporary, prefabricated houses in the wake of the severe housing 
shortage. As part of the housing program, the officials are aiming to build 
30,000 units over the next five years. 
Through the initiative, Hong Kong aims to reduce the wait time to four and 
a half years, from the current six years. However, owing to the higher cost 
of prefabricated units, the officials are facing severe backlash, as critics 
have noted that the permanent unit costs are about the same as that of the 
prefabricated unit. 
Turkey, where an earthquake has displaced many families, is also seeing 
prefabricated construction as a solution to provide homes to its citizens. To 
meet the housing demand of earthquake-hit victims, the Turkish 
government has planned to start using prefabricated structures. In March 
2023, the government plans to start building 30,000 houses in the quake 
zone. 
Read More - 
The demand for affordable housing units calls for investment from 
the private and public sectors 
globally
In the United Kingdom too, ConsTrack360 expects the government to 
support prefabricated construction activities, as traditional construction 
methods have failed to deliver 300,000 homes a year. With housing 
affordability and availability at an all-time low, modular housing provides a 
structured solution for the government to deliver on its 300,000 homes a-
year goal. Consequently, government backing and private investment in 
the space are projected to grow significantly over the next five years in the 
United Kingdom prefabricated industry. 
With the demand for prefabricated construction projected to increase 
substantially in the European market, global players are seeking to expand 
their operations in the region and capitalize on the high-growth opportunity. 
As part of their European expansion plans, these firms are investing 
millions of euros in the development of new plants in the region. 
In January 2023, IMZ Holdings, the Dubai-based multinational firm, 
announced that the firm is investing 20 million euros to open its European 
headquarters, which will be dedicated to the construction of a prefabricated 
house panel plant in Antequera, in the province of Málaga, Spain. The new 
plant will support the growing demand for prefabricated panels in the 
region. 
In Europe, the demand for prefabricated modules has been also supported 
by the surge in energy prices. With people seeking to reduce energy bills, 
they are refurbishing their apartments with prefabricated modules to turn 
their homes and apartments into more energy-efficient units. The trend has 
gained widespread momentum, especially in Germany, and is projected to 
grow in other European markets as well from the short-term perspective. 
Read More - 
Renovation activities supporting the growth of the construction in
dustry in the United States
Over the next three to four years, as the demand for prefabricated 
construction continues to grow, ConsTrack360 expects investment in the 
sector to increase significantly in the global market. This, coupled with 
government initiatives, will keep driving the industry's growth globally. 
Contact Us-
.
• Address - 25 Milcote Drive, Sutton Coldfield, West 
Midlands, B73 6QJ, UK
• Website - www.constrack360.com
• Email - [email protected]
• Contact Number - + 1 (813) 694-7122